Mosaic cut its Q3 sales, halted logistics for Helene

US fertilizer producer Mosaic cut its phosphate sales guidance for the third quarter after curtailing product shipments in preparation from Hurricane Helene.

The producer lowered its sales guidance for the third quarter by 250,000t to 1.45-1.65mn t, the company said. Mosaic halted phosphate shipments from its three processing facilities near Tampa Bay, Florida, prior to Hurricane Helene on 23 September and is uncertain shipments will resume by the end of the week. Mosaic ships about 150,000t of phosphate product from Tampa Bay per week, the company said.

Mosaic exports phosphates by vessel from the port of Tampa Bay, which shut down yesterday, and ships product by rail across the US.

Helene made landfall as a Category 4 hurricane on 26 September on the Florida panhandle after barreling north in the Gulf of Mexico just west of Tampa Bay, causing storm surges and power outages in the area. About 4.2mn customers were without power across the southeast US.

Mosaic did not respond to requests for comment on the impact Helene has had on its assets near Tampa Bay.

The reduction in Mosaic's third quarter sales outlook includes 80,000-100,000t of phosphate production lost earlier this month after Hurricane Francine disrupted operations at its Faustina, Louisiana, plant near New Orleans. Faustina's operations have normalized since, Mosaic said.

By Calder Jett